Keeping a journal is an essential part of disciplined trading and investing. The journal helps us analyze our trades and improve our decisions.
It is common for people to trade systems or place trades, but they tend to forget the reasons for doing so. Analyzing the reason and thought process behind taking the trade will provide you with valuable insight into what works for you and what mistakes to avoid.
Keeping that in mind we have created a very simple trading journal feature.
Go to the Trading journal in My accounts
Select the period and submit.
You will find all your trades placed during the period.
For each trade placed, write a remark. There are two columns in which you can write, remark and description.
The Remark column should contain a brief description of the system that you are following. Description can be a long write up explaining the reason and thought process while taking the trade.
For example, you assigned one of the following remarks to each trade and saved:
1) Breakout system
2) RSI & super trend system
3) Friend recommended
Now when you open the journal, click on the remark-wise tab and submit.
Based on the choice of remark, you can view the performance of the trades.
In this way, you will be able to analyze the performance of your trades based on the remarks you have chosen.
Try it and let us know your feedback.
A number of new features are being added to the trading journal.